Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.2722%/8h= +298.1% APRpaid last 24h +0.843%

Price spread now: Bybit against GMX+0.078%51s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$82 a day on $10k at the current rate, and Bybit is 0.078% dearer against GMX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MNT/USD [ETH-USDC]	0.6482	L −0.2622% / S +0.0192%	get 0.0328% / 1h	0m 37s	$19	—	100x
Short	Bybit MNTUSDT	0.6487	0.0100	get 0.0100% / 8h	7h 00m	$43.0M	$14.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee BybitbpOrdersPrice spread, now +0.078%Rate

Funding earned: $571.65
Price spread: +0.078% → 0.000%: $7.84
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $556.49
Costs to cover: 0.230%
Break-even: 0.2 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	1.54 bp	20.4 bp −$20	87.8 bp −$878	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MNT on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX MNT/USD [ETH-USDC]long	L −0.2622% / S +0.0192%	1h	0.6482	long leg	$19	—	100x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6481	−0.018%	$779	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.680%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6495	+0.210%	$6.5M	$916K	5x	as long as short
Bybit MNTUSDTshort	+0.0100%	8h	0.6487	+0.078%	$43.0M	$14.9M	25x
Gate MNT_USDT	+0.0100%	4h	0.6481	−0.014%	$455K	$178K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6484	+0.032%	$2.4M	$108K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6488	+0.094%	—	$2.6M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6482	+0.001%	$37K	$63K	10x	as long as short
Variational Omni MNT	+0.0100%	8h	0.6479	−0.040%	$290K	$105K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni MNTUSDT	+0.0100%	1h	0.6490	+0.125%	$11K	$643K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6495	+0.202%	$1K	$74	10x	as long as short
Lighter MNT	+0.0104%	1h	0.6501	+0.294%	$147K	$91K	5x	as long as short
BloFin MNT-USDT	+0.0307%	8h	0.6488	+0.094%	$90K	$153K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.1516%	1h	0.6498	+0.255%	$16K	$40K	20x	as long as short